The 14th Annual General Meeting of Infinity Trust Mortgage Bank Plc is scheduled for Thursday May 7, 2020 on a virtual platform.
The AGM was earlier scheduled to hold physically but was disrupted by the Covid-19 pandemic and the associated national response. The decision for a virtual AGM was reached by the Board of Directors after extensive deliberations.
The Bank in a notice of the AGM signed by the Company Secretary, Mrs. Tolulope Osho, which was posted on the Nigerian Stock Exchange (NSE) website, indicated that the meeting would be by proxy.
According to her, the meeting would hold at the Penthouse, Infinity House, 11 Kaura Namoda Street, Garki, Abuja on May 7, at 11:00 am. She said the convening and conduct of the AGM shall be done in compliance with the Corporate Affairs Commission’s (CAC) issued Guidelines on Holding AGM of Public Companies by Proxy.
“We have concluded plans to hold our first virtual AGM in line with CAC guidelines. This would be done in order to curtail the spread of the Covid-19 pandemic while observing related directives and guidelines by both the Federal and State Governments and other Regulatory Agencies. This is due to the fact that the national guidelines for managing the pandemic does not give room for large gatherings and we have a responsibility as a Bank to hold the AGM and carry on necessary day-day operations while observing the guidelines by the Government.”
“The federal government has prohibited the gathering of more than 20 people, so attendance of the AGM shall be by proxy only,’’ she said.
She explained that the AGM would be streamed live online on the Bank’s YouTube channel to enable shareholders who would not be attending physically to follow the proceedings.
The head of investor relations, Abiodun Akanbi, stated that ordinary business such as presentation of annual reports and accounts, declaration of dividends, the reappointment of directors, reappointment of auditors would be attended to at the AGM while giving room for key stakeholders to participate and ask questions.
“We understand that this is a virtual AGM and we would ensure that key stakeholders are not deprived the opportunity to ask cogent questions and contribution as it pertains to the growth of the Bank, said Abiodun Akanbi.
Akanbi noted that Shareholders and their proxies are strongly encouraged to utilize the options available to them to participate in the AGM without attending in person. He explained that other details on how to participate in the meeting will be sent specifically to shareholders.
Infinity Trust Mortgage Bank PLC, one of the leading and most capitalized Primary Mortgage Banks in Nigeria, the bank has significantly increased its shareholders’ funds from less than N50m in 2003, to over N5billion and maintained an unbroken record in terms of consistency in dividend payment to shareholders for thirteen years running. Infinity Trust Mortgage Bank Plc has wholly or partly financed no fewer than 14 modern estates in Abuja, thereby providing decent and affordable accommodation to over 4,000 Nigerian families.
